Delete this, this is wrong on so many levels. 1 it’s FOX News bullshit, 2 the numbers don’t even add up. You’re spreading misinformation.
Shows how out of control inflation is
Submitted 10 months ago by STRIKINGdebate2@lemmy.world to aboringdystopia@lemmy.world
https://lemmy.world/pictrs/image/2e4ab040-374d-484a-a4af-17cc4cae4f19.jpeg
Comments
madcaesar@lemmy.world 10 months ago
resin85@lemmy.ca 10 months ago
It’s so depressing when you remember that some of the stupidest voters in the country (of which there are a LOT) watch fox news as their only source of news. Has there ever been a larger propaganda outlet throughout history? I guess China and Russia probably have government controlled TV stations that rival it in terms of audience numbers.
Dmian@lemmy.world 10 months ago
This article says these numbers are not correct: politifact.com/…/heres-how-much-kevin-mccallister…
To be considered: minimum wage in the US in 1990 was $3.80/h, and it’s $7.25/h in 2023, so 1.91 times higher. If $1 of 1990 equals $2.42 of 2023, you lost 0.51 of purchasing power (if you make minimum wage, on average). Minimum wage should be $9.20/h to have the same purchase power as 1990.
kromem@lemmy.world 10 months ago
From that article:
Not adjusting for inflation and differences in packaging sizes results in a higher total of $72.63.
So not adjusting the $1 coupon for inflation and not adjusting for things like the smallest TP package today being 6 rolls and the one in the movie being 4 rolls gets awfully close to (actually over) the number from the image.
Given you can’t purchase partial container sizes at stores and coupons still tend to come in full dollar amount values including frequently $1 and don’t have terms that adjust for inflation, I don’t think one methodology here is inherently more correct than the other.
ironeagl@sh.itjust.works 10 months ago
But then it states “Today’s prices are about 2.35 times higher than the average prices were in 1990, according to the Bureau of Labor Statistics.”
Dagwood222@lemm.ee 10 months ago
This is something I’ve been saying for years. People use Inflation Adjustments that show that, say $1 million in 1970 is $10 million today But the reality is that $1 million in 1960 was a vast fortune that would purchase a Manhattan townhouse, a few super cars, and a dozen small businesses. $10 million today will buy you a decent life, but not staggering wealth.
RIP_Cheems@lemmy.world 10 months ago
I thought minimum wage was 15/h?
stevehobbes@lemy.lol 10 months ago
Some localities and states. Federal minimum wage is $7.20.
9point6@lemmy.world 10 months ago
But $72.28 is 364% of $19.83
Where’s their number coming from
superduperenigma@lemmy.world 10 months ago
Where’s their number coming from
Their ass, it’s Fox News.
Phen@lemmy.eco.br 10 months ago
Sad thing is that a 364% increase from 1990 to 2023 didn’t even feel that big to me. In my country the price probably increased between 1000% and 1500% in this period (considering our local currency). However in USD the same items are probably still cheaper here than they are in America.
9point6@lemmy.world 10 months ago
So apparently the shop was: 2L milk, 2L orange juice, 2 ready meals, loaf of bread, dryer sheets, toilet paper, washing liquid, cling film, and some toy soldiers
I’m not sure what that would add up to in Brazil (going by your instance), but I’d guess that shop would cost me around £50 in today’s money, which is roughly in line with the amount in the OP
Dmian@lemmy.world 10 months ago
This TikTok www.tiktok.com/…/7305957178521750830
DreamAccountant@lemmy.world 10 months ago
If you’re quoting fox “news”, fuck you.
Eheran@lemmy.world 10 months ago
248 %? Where is that number coming from? 1990 to 2022 is 224 % or 124 % increase. 1990 to 2023 is 364 % or 264 % increase. Additionally, the 2023 spike is not because of inflation. Inflation was not 63 % in one year.
RestrictedAccount@lemmy.world 10 months ago
What? Are you saying that Faux Noise would tell another bald face lie like the election was stolen or vaccines are harmful?
/s because Fox News viewers are so stupid
Altofaltception@lemmy.world 10 months ago
Additionally, the 2023 spike is not because of inflation. Inflation was not 63 % in one year.
Why was there a spike in 2023 then?
LufyCZ@lemmy.world 10 months ago
You forgot that corporations bad
Pat_Riot@lemmy.today 10 months ago
Corporate greed.
crsu@lemmy.world 10 months ago
Kensai@lemmy.world 10 months ago
Lyn Alden’s book Broken Money has convinced me that the issue is that our monetary system is fundamentally broken. A sobering read.
givesomefucks@lemmy.world 10 months ago
Stop saying this is inflation.
It’s the result of a handful of corporations owning the majority of food products.
And then realizing people need food regardless of cost, and if they all raise prices at the same time there’s very few other options.
It’s price gouging, plain and simple.
RememberTheApollo_@lemmy.world 10 months ago
Of course it’s bullshit. The sky always has to be falling of Faux News, that’s how they keep the viewers scared, angry, and watching.
MSN puts it at about $50:
www.msn.com/en-us/money/markets/…/ar-AA1ldFjI
Even Snopes puts it at about $50 (last year’s pricing): snopes.com/…/kevin-groceries-home-alone-cost-toda…
So Fox, as usual, is full of fearmongering shit.
Track_Shovel@slrpnk.net 10 months ago
This is the end game for corporations in a capitalist economy. You start with a bunch of little companies. They eventually winnow themselves out until there’s only a few companies. Those companies then form a monopoly or a cartel and then they dictate prices to the consumers. All the while they’re decreasing their costs and providing the least amount of product for the highest price.
It’s a race to the bottom. Unfortunately this system is all we’ve got.
NewNewAccount@lemmy.world 10 months ago
Regardless of the underlying cause, it’s still inflation.
xantoxis@lemmy.world 10 months ago
No, they’re not the same thing. “Inflation” refers to a tendency for all prices in an economy to rise, including the price of labor. In periods of high inflation you should be noticing your wages going up quickly along with the price of everything else. What we’re seeing is that most things are staying about the same, including wages, but groceries in particular are going up faster than everything else. (Even if you set aside Fox News’ bullshit factor, $50 is higher than standard inflation, which would make it about $46.)